Nexa Resources (NYSE:NEXA) Price Target Raised to $7.00

Nexa Resources (NYSE:NEXA) had its price objective hoisted by research analysts at Scotiabank from $5.75 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector underperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 5.74% from the company’s current price.

Separately, Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.56.

Nexa Resources Price Performance

Shares of NEXA opened at $6.62 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a fifty-two week low of $5.10 and a fifty-two week high of $9.61. The company has a market cap of $876.75 million, a P/E ratio of -4.38 and a beta of 1.48. The firm’s 50 day moving average price is $7.94 and its 200 day moving average price is $7.39.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP raised its holdings in Nexa Resources S.A. (NYSE:NEXA) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 593,983 shares of the company’s stock after buying an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned about 0.45% of Nexa Resources worth $4,538,000 as of its most recent SEC filing.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.